Gold Mining Stocks 2025: Outlook, Risks & Opportunities, with Golden Prospect

In this episode of Investing, Markets & Money, we dive into gold and precious metals with Robert Crayfourd, co-manager of the Golden Prospect Precious Metals Fund at CQS New City. The fund has just been named Best Investment Trust for Growth at the 2025 Online Money Awards—and Robert explains the strategy behind its success. You can find more on the awards here - https://www.thearmchairtrader.com/online-money-awards/ Stuart and Robert cover: - Why small & mid-cap miners can deliver better returns than gold ETFs - Central bank gold buying and the weaponization of the dollar - The outlook for gold, silver, and other precious metals in 2025 - How geopolitical risk, US debt, and interest rates shape the sector - The value of active management in mining vs passive ETFs 👉 Don’t miss Robert’s insights on why gold may still be “underowned” and how his team finds opportunities others overlook. If you enjoy these conversations, the best way to support the show is a quick rating or review — it helps more investors discover us. Listen on: Spotify - https://open.spotify.com/show/2vfaIsYhqcRejpjWNqYF6f Apple Podcasts - https://podcasts.apple.com/gb/podcast/the-armchair-trader-podcast/id1454640070 Amazon - https://music.amazon.co.uk/podcasts/68a66097-24d8-403e-a86f-70fab0d2d686/The-Armchair-Trader-Podcast SoundCloud - https://soundcloud.com/armchairtrader/ YouTube - https://www.youtube.com/@armchairtrader Follow us: BlueSky - https://bsky.app/profile/thearmchairtrader.com Linkedin - https://www.linkedin.com/company/10429893 Instagram - https://www.instagram.com/armchairtrader Facebook - https://www.facebook.com/TheArmchairTrader 00:00 Intro to Golden Prospect Precious Metals [LON:GPM] 02:09 How flexible is the trust's mandate? 02:40 The global gold market 05:09 What has been driving the gold price up? 07:25 Geopolitical risk versus central bank holdings 10:55 Why buy an investment trust and not an ETF 12:30 Going on site visits 14:13 Managing risk 16:26 Political elements to running the trust 17:00 The trust's geographic exposure 17:47 Other metals besides gold: silver 20:55 Sustainability and corporate governance 22:41 Miners and government disputes, e.g. Barrick in Mali 23:56 Golden Prospect wins Best Investment Trust for Growth 27:08 Gold/silver producers using cash for development 28:12 Spotting takeover targets 30:20 How have ETFs affected the market? 31:49 The fund's subscription shares rights issue